Indicate Which of the Following Accounts Will Be Closed to Income

question 89

Essay

Indicate which of the following accounts will be closed to Income Summary at year-end.
(a)Cash
(b)Office Supplies Expense
(c)Unexpired Insurance
(d)Unearned Revenue
(e)Dividends
(f)Depreciation Expense
(g)Income Taxes Payable
(h)Accumulated Depreciation

---

Definitions:

Ileum

The third and final part of the small intestine, where the digestion of food is completed and nutrients are absorbed.

Anterior Iliac Spine

A bony projection on the upper portion of the iliac bone in the pelvis, serving as an attachment point for ligaments and muscles.

Lordosis

Increased lumbar curvature.

Lumbar Spine

The lower part of the spine consisting of five vertebrae (L1-L5) that support much of the upper body’s weight and provide flexibility and movement.